Robotic process automation (RPA) is becoming increasingly popular with large enterprise organizations, leading to global spend on the software reaching $680min 2018, according to Gartner.
This figure represents a 57 percent year-over-year increase from 2017.
The analyst stated that those adopting the technology are companies that specialize in insurance, utilities and communications, as well as banks.
"Typically, these organizations struggle to knit together the different elements of their accounting and HR systems, and are turning to RPA solutions to automate an existing manual task or process, or automate the functionality of legacy systems," Cathy Tornbohm, VP at Gartner, said. "End-user organizations adopt RPA technology as a quick and easy fix to automate manual tasks.
"Some employees will continue to execute mundane tasks that require them to cut, paste and change data manually. But when RPA tools perform those activities, the error margin shrinks and data quality increases," she noted.
RPA technology uses a combination of "user interface interaction describer technologies" to imitate the process a human would undertake to complete a task.
It also provides a broad range of solutions with tools to operate on individual desktops or enterprise servers.
Gartner predicts that 60 per cent of organizations with a revenue of more than $1bn will have deployed RPA tools by the end of the year.
It also estimates that by the end of 2022, 85 per cent of large and very large organizations will have deployed some form of RPA.
"The growth in adoption will be driven by average RPA prices decreasing by approximately 10 percent to 15 percent by 2019, but also because organizations expect to achieve better business outcomes with the technology, such as reduced costs, increased accuracy and improved compliance," Tornbohm said.
Gartner warned that for RPA to be successful to an organization's outcomes, the company must evaluate the possible use cases for RPA and focus on how it might generate revenue for the business.
Quick wins will be imperative in encouraging adoption of the software, according to the analyst.
These can be cases where RPA delivers a high ROI, such as tasks that require people to solely move data between systems or involve structured, digitalized data processed by predefined rules.
"Do not just focus on RPA to reduce labor costs," Tornbohm advised. "Set clear expectations of what the tools can do and how an organization can use them to support digital transformation as part of an automation strategy."
Channelnomics recognizes Sophos' innovation in the security world
Daily tech news and analysis channel partners need to know, including wearable's growth, Canada's skills gap, EPC's forecast and more
Catch our winners discussing the state of the market during the CIAs Awards ceremony in New York City
Optiv Security strategy expert discusses PCI and beyond